The Reserve Bank of India replaced as much as 44% of the currency extinguished by demonetisation with new notes by December 30, according to a State Bank of India report. It forecasts that, by the end of this month, 67% of the cancelled currency will get replaced if the central bank prints notes of various denominations at the current pace, and to 80-89% by the end of next month. The country's currency supply is likely to return to near normal by February end and growth, which has been hit by the withdrawal of Rs 500 and Rs 1,000 notes, is likely to bounce back faster than earlier expected, said the analysis by India's largest commercial bank. December 30 was the last day on which the public could deposit old notes with banks following the November 08 demonetisation announcement. The level of replenishment is perhaps not rising faster because the central bank, having initially focussed on pumping new Rs 2,000 notes into the system, is now concentrating on currency of lower denominations, SBI group chief economist Soumya Kanti Ghosh said.